New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-07-09
THE CITY AND THE BROADWAY ROAD.
NOT MUCH CHANCE THAT THE TREASURY WILL BE
ENRICHED BY lis SALE.


ENRICHED BY lis SALE.
ZACH sharp did his work SO well in swindling tho
CITY out OF the broadway Railway franchise that tho
prospect of undoing his work is not regarded as prom
Using by the local authorities At the present limo
the Broadw ay road is in the hands OF Receiver John
O'Bnen, who found nothing to receive except tho
tracks and The Joint suit Of tho state ana
the city to enforce the acts the Legislature dssoying
and winding up the Broadway Surface Railroad Com
pany, and sell for the benefit OF the city The
franchise for operating the road Is still pending De-
fore the General Term at Albany. Judge Peckham
lust before he went on the Court Of Appeals bench,
decided in special against the city. declaring
that Jake" Sharps agreement with himself by which
the Broadway and seventh Avenue anu the Twenty
third companies acquired Ghe Sht to run their
the broadway road, was Valid, and mat the
city could not sell tho franchise.
II this decision Is sustained by the higher courts
then Receiver O'Bnon will have the right to sell
the road for the benefit OF the stockholders and
creditors OF the broadway Company, subject to the
agreements with the seventh Avenue and the Twenty
third street companies The city would gain nothing
by that But ii the PecAham decision Is 0ser
ruled and the city allowed TO sell tho irachse, there
d a pros lect thai 1t viii not DO much better OF.
The franchise be sold Will be that granted TO sharp
by Beam OF Aide fmen II cont aims the prov lsion
that passengers he carried five lIom
tho battery Central Park. A. the cevonth Avenue
road lis the tracks In broadway dLu
EOnIol tito s:o. 80 tha4 Whichever way the case
ueci,aed, the seventh Avenue Company expects "
continue practically 70 own and operate me BfOaiWa)
road
Elkins, Widencr and other Philadelphia capitalists
own tho seventh 1Wennc aud TIC twenty Third
Strcct lines formerly controlled by sharp Iney ao,
therefore, iii practical possession Oh the Broa way
ROAD They pay ronUal Vi sl2o day TO heceiver
Jonn ~ the 0f such cars ana property
came In his control. In addition they pay tue
city $4,000 year and per cent Of the grOss re-
cepts as provided by law, and license tax OF so
a car per annum. Last year the CITY received alto
peh "a aiAnII .il.Sl
fdr Der cent OF tho gross receipts. The city takos
the word OF the railfoai companies as 10 this sum,
as otherwise il would need to have an Inspector Oh
every
Tho railroad companies rnnnIng In Broadway pre-
tend keep account of passengers who 90 on or
Off below FOurteenthst but 1t is notorious that this
IS not done. Personal investigation broadway
cars has shown that ew of the conductors take any
when they reach Fourteenth-st Of the number OF
passengers on board. Each one is supposed TO carry
a book and mako entries when they reach thai point
but they do not observe this Requirement. The city
Is probably dcfrauied out OF large sum in this
way but L is apparently helpless under the circum-
stances The receipts OF the road for Passengers bo
low Fourtecnthst probably exceed S1,6oO,oOo